Assenagon Asset Management S.A. Purchases 642,065 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Assenagon Asset Management S.A. raised its holdings in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 114.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,204,994 shares of the company's stock after acquiring an additional 642,065 shares during the period. Assenagon Asset Management S.A. owned approximately 0.39% of Amneal Pharmaceuticals worth $10,026,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter worth approximately $531,000. Nantahala Capital Management LLC lifted its position in Amneal Pharmaceuticals by 1.9% in the second quarter. Nantahala Capital Management LLC now owns 2,669,943 shares of the company's stock worth $16,954,000 after purchasing an additional 50,000 shares during the period. Algert Global LLC boosted its stake in Amneal Pharmaceuticals by 11.5% during the 2nd quarter. Algert Global LLC now owns 452,724 shares of the company's stock valued at $2,875,000 after purchasing an additional 46,537 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Amneal Pharmaceuticals by 32.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,195 shares of the company's stock valued at $598,000 after purchasing an additional 22,850 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter worth $707,000. Institutional investors and hedge funds own 31.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays raised their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an "overweight" rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an "underweight" rating to a "neutral" rating and set a $9.00 price objective for the company in a research note on Friday, September 6th. Finally, Truist Financial lifted their target price on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $9.40.

Amneal Pharmaceuticals Price Performance

NASDAQ:AMRX traded up $0.14 during midday trading on Monday, reaching $8.54. The stock had a trading volume of 610,577 shares, compared to its average volume of 1,415,026. The stock has a market capitalization of $2.64 billion, a P/E ratio of -15.25 and a beta of 1.18. Amneal Pharmaceuticals, Inc. has a 1-year low of $3.72 and a 1-year high of $8.95. The firm's fifty day simple moving average is $8.50 and its 200-day simple moving average is $7.35.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last announced its earnings results on Friday, August 9th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $701.78 million during the quarter, compared to the consensus estimate of $657.43 million. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. On average, equities research analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.52 earnings per share for the current fiscal year.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: Generics, Specialty, and AvKARE. The Generics segment offers immediate and extended release oral solid, powder, liquid, sterile injectable, nasal spray, inhalation and respiratory, biosimilar, ophthalmic, film, transdermal patch, and topical products.